In general, our team is involved throughout the complete life cycle of a project, right from land acquisition to key turnover. In a typical life cycle the process of building the marketing strategy, developing the marketing collateral and generating enough leads to ensure a successful launch takes anywhere from 6-12 months. Given the timeline required to complete this process, our team usually starts during the municipal approval process to ensure a timely opening. However, from time to time, we are brought on once the municipal approval process has been completed and the offering is ready to hit the market. Our team has the capacity and skill set to ensure a quick turnaround in these situations.
A recent example is the launch of Township Commons in Langley. Fifth Avenue was engaged in the summer with a goal of getting the offering to market by November in order to ensure sales commenced prior the holiday season and ahead of the pending new mortgage lending rules going into place on January 1st. While a 100 day or less turnaround is not always ideal (or possible), in this situation our team was able to make it happen.
Township Commons started previewing in the month of November with sales commencing at the end of the month. After opening weekend, the offering was 70% sold achieving premium values for the product type at that time.